6,933 Shares in Brown & Brown, Inc. (NYSE:BRO) Acquired by Legacy Capital Wealth Partners LLC

Legacy Capital Wealth Partners LLC acquired a new stake in Brown & Brown, Inc. (NYSE:BRO) in the 2nd quarter, according to its most recent disclosure with the SEC. The fund acquired 6,933 shares of the financial services provider’s stock, valued at approximately $620,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Crewe Advisors LLC increased its position in shares of Brown & Brown by 330.4% in the second quarter. Crewe Advisors LLC now owns 297 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 228 shares during the period. Headlands Technologies LLC bought a new position in Brown & Brown in the 1st quarter valued at about $32,000. Alaska Permanent Fund Corp acquired a new position in shares of Brown & Brown in the 1st quarter valued at approximately $36,000. First PREMIER Bank bought a new stake in shares of Brown & Brown during the 1st quarter worth approximately $40,000. Finally, Intelligent Financial Strategies acquired a new stake in shares of Brown & Brown during the 1st quarter worth approximately $45,000. 71.01% of the stock is owned by institutional investors and hedge funds.

Brown & Brown Stock Performance

Brown & Brown stock opened at $104.96 on Wednesday. The business has a 50 day moving average of $97.45 and a 200-day moving average of $90.17. The company has a market capitalization of $29.94 billion, a P/E ratio of 32.30, a P/E/G ratio of 2.44 and a beta of 0.82. Brown & Brown, Inc. has a 1 year low of $66.73 and a 1 year high of $105.71. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.35 and a quick ratio of 2.35.

Brown & Brown (NYSE:BRO) last released its quarterly earnings results on Monday, July 22nd. The financial services provider reported $0.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.05. The firm had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.14 billion. Brown & Brown had a net margin of 21.95% and a return on equity of 17.00%. The company’s revenue for the quarter was up 12.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.68 earnings per share. On average, equities research analysts predict that Brown & Brown, Inc. will post 3.68 earnings per share for the current year.

Brown & Brown Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Wednesday, August 7th were given a $0.13 dividend. The ex-dividend date of this dividend was Wednesday, August 7th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.50%. Brown & Brown’s dividend payout ratio (DPR) is presently 16.00%.

Insider Activity

In other news, Chairman Hyatt J. Brown sold 134,640 shares of the business’s stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $104.51, for a total value of $14,071,226.40. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Brown & Brown news, Chairman Hyatt J. Brown sold 134,640 shares of the stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $104.51, for a total transaction of $14,071,226.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO R. Andrew Watts sold 2,500 shares of the business’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $100.32, for a total value of $250,800.00. Following the completion of the transaction, the chief financial officer now directly owns 88,445 shares in the company, valued at $8,872,802.40. The disclosure for this sale can be found here. Over the last quarter, insiders sold 140,490 shares of company stock valued at $14,623,258. Company insiders own 17.02% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Truist Financial boosted their price objective on shares of Brown & Brown from $104.00 to $112.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Bank of America raised Brown & Brown from an “underperform” rating to a “neutral” rating and boosted their price target for the stock from $91.00 to $101.00 in a report on Wednesday, May 22nd. Royal Bank of Canada raised their price objective on Brown & Brown from $95.00 to $110.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. UBS Group boosted their target price on Brown & Brown from $91.00 to $94.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 9th. Finally, StockNews.com upgraded shares of Brown & Brown from a “hold” rating to a “buy” rating in a research note on Friday, August 16th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Brown & Brown currently has an average rating of “Moderate Buy” and a consensus target price of $99.20.

Brown & Brown Company Profile

Brown & Brown, Inc markets and sells insurance products and services in the United States, Canada, Ireland, the United Kingdom, and internationally. It operates through four segments: Retail, National Programs, Wholesale Brokerage, and Services. The Retail segment provides property and casualty, employee benefits insurance products, personal insurance products, specialties insurance products, risk management strategies, loss control survey and analysis, consultancy, and claims processing services.